Business

Custody battles

Article Abstract:

Global custody is fastly improving because of technology, customer demand and consolidation. The processing, safekeeping and investment of corporate funds internationally is now a $17 trillion industry. Moreover, global custodians spend over $100 million to $300 million on technology to keep them competitive and meet the increasing demands of their clients and safeguard themselves from hackers. However, the transition to the euro currency may affect the industry by preventing them to take advantage of the revenue from foreign exchange trades.